{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-030281","form_type":"8-K","ticker":"MDGL","cik":"0001157601","company_name":"MADRIGAL PHARMACEUTICALS, INC.","filed_at":"2023-02-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:43.988372+00:00","generated_at":"2026-06-19T19:19:19.803253+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Madrigal amends credit agreement: rate cut 150bps, extra $15M tranche, $35M draw","bullets":["Borrowing cost reduced ~150bps to 10.2% as of Feb 3, 2023; interest-only now through May 1, 2025.","Tranche 2 increased by $15M to $65M; $35M drawn immediately, up to $30M more available in two $15M tranches.","Tranche 4 reduced by $15M to $60M (discretionary); total facility remains $250M, $85M now outstanding.","Unvested warrants for 59,545 shares canceled; new warrants issued for 2,543 shares at $285.31 per share.","Additional $15M Tranche 2 draw available by June 19, 2023; another $15M by Sep 30, 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-030281","json":"https://secwatch.observer/filing/0001193125-23-030281.json","markdown":"https://secwatch.observer/filing/0001193125-23-030281.md","text":"https://secwatch.observer/filing/0001193125-23-030281.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1157601/000119312523030281/0001193125-23-030281-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1157601/000119312523030281/d457771d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T19:19:19.803253+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"fa6db5437880751371b25aebcdaf1643c19b8b42","claim":"MADRIGAL PHARMACEUTICALS, INC. amended term loan of aggregate of $250.0 million in term loans; Tranche 2 increased by $15.0 million to $65.0 million; Tranche 4 reduced by $ with Hercules Capital, Inc. at variable per annum rate determined based on the greater of (i) the prime rate as maturing May 1, 2026, extendable for one year upon Approval Milestone.","evidence_excerpt":"nt, dated May 9, 2022 (the “Loan Agreement” and as amended by the Amendment, the “Amended Loan Agreement”), with the several banks and other financial institutions or entities party thereto (each, a “Lender” and collectively referred to as the “Lenders”), and Hercules Capital, Inc., a Maryland corporation (“Hercules”), as Lender and in its capacity as administrative agent and collateral agent for the Lenders (in such capacity, “Agent”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1157601/000119312523030281/0001193125-23-030281-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"aggregate of $250.0 million in term loans; Tranche 2 increased by $15.0 million to $65.0 million; Tranche 4 reduced by $"},{"label":"Counterparty","value":"Hercules Capital, Inc."},{"label":"Rate","value":"variable per annum rate determined based on the greater of (i) the prime rate as"},{"label":"Maturity","value":"May 1, 2026, extendable for one year upon Approval Milestone"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"a20d0a1f5066d318a168adeb4194150877cfaa4c","claim":"MADRIGAL PHARMACEUTICALS, INC. amended First Amendment to the Loan and Security Agreement with Hercules Capital, Inc., as Lender and Agent valued at $250.0 million (effective 2023-02-03).","evidence_excerpt":"entered into a First Amendment (the “Amendment”) to the Loan and Security Agreement, dated May 9, 2022 (the “Loan Agreement”","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1157601/000119312523030281/0001193125-23-030281-index.htm","confidence":0.99,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Hercules Capital, Inc., as Lender and Agent"},{"label":"Value","value":"$250.0 million"},{"label":"Effective","value":"2023-02-03"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}